Holiday homes

REFINANCING

Holiday homes

It’s part of the Kiwi dream – a bach or crib to get away to whenever you like, somewhere by the beach or in the mountains. We can help you get that dream place you’ve been looking for, but it’s worth bringing a little bit of reality into the process.

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Renting the bach

Often people believe they’ll be able to cover the mortgage costs of their new holiday home by renting it out when they’re not there. But making enough to cover the costs can take a lot of work, and a bit of luck.

You need to buy in the right place, and have it available at the right times. Unfortunately, peak season for renters is also the time when you will probably want to be using the house – summer holidays and long weekends.

We can help you talk with your lender to finance your holiday house, but don’t be surprised if they don’t take potential rental income into account when deciding on the loan.

A capital investment?

If you think you can buy a holiday home, use it yourself, and make a bit of money when you sell – well, like renting, it very much depends on buying in the right place. There’s no shortage of costal land in NZ (at least not yet) so unless you buy in an in-demand area like Queenstown, the land is probably not going to appreciate much. And of course, the more in-demand the area is, the more expensive it will be to buy a property there.

Ultimately, if you’re looking at a holiday home as an investment, you’re probably looking in the wrong place. But if you’re looking at it as a bit of a luxury where you can relax and get away from it all, come talk to us, we’ll help you with the financial details.